Instructions for Form 1120s, U S Income Tax Return for an S Corporation

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Original publisher: [Washington, D.C.?]: Dept. of the Treasury, Internal Revenue Service, OCLC Number: (OCoLC)27364931 Subject: Corporations -- Taxation -- United States -- Periodicals. Excerpt: ... Page 15 of 43 Instructions for Form 1120S 15: 15-7-FEB-2011 The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before printing. paid, the IRS may make adjustments in Line 7. Compensation of After 12 / 31 / 03 but before 1 / 1 / 05 $ 17, 500 the items taken into account by such If the lease term began before January 1, 2004, see Officers and Pub. 463, Travel, Entertainment, Gift, and Car individuals to reflect the value of such Expenses, to find out if the corporation has an Line 8. Salaries and Wages services or capital. See section inclusion amount. The inclusion amount for lease 1366 ( e ). terms beginning in 2011 will be published in the Distributions and other Internal Revenue Bulletin in early 2011. payments by an S corporation to ! Line 9. Repairs and CAUTION a corporate officer must be Maintenance See Pub. 463 for instructions on treated as wages to the extent the figuring the inclusion amount. amounts are reasonable compensation Enter the cost of incidental repairs and for services rendered to the maintenance not claimed elsewhere on corporation. Line 12. Taxes and Licenses the return, such as labor and supplies, that do not add to the value of the Enter taxes and licenses paid or Enter on line 7 the total property or appreciably prolong its life. incurred in the trade or business compensation of all officers paid or The corporation can deduct these activities of the corporation, unless they incurred in the trade or business repairs only to the extent they relate to are reflected elsewhere on the return. activities of the corporation. The a trade or business activity. New Federal import duties and federal corporation determines who is an buildings, machinery, or permanent excise and stamp taxes are deduc...Original publisher: [Washington, D.C.?]: Dept. of the Treasury, Internal Revenue Service, OCLC Number: (OCoLC)27364931 Subject: Corporations -- Taxation -- United States -- Periodicals.

Title

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Instructions for Form 1120s, U S Income Tax Return for an S Corporation

Author

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United States. Internal Revenue Service

Publisher

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Books LLC - 2011-10

ISBN-13

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